Last week, the dollar index remained firm ahead of the US retail sales data release on Tuesday. However, when the data revealed that May retail sales grew by only 0.1% month-over-month, falling short of the 0.3% projected by economists in a Reuters poll, the dollar index declined.
Additionally, retail sales figures for April were revised down to a 0.2% drop from the previously reported unchanged level. This adjustment reinforced expectations that the US Federal Reserve might start cutting rates soon.
The dollar index later strengthened after US business activity, measured by the purchasing managers’ index (PMI), hit a 26-month high due to a recovering labor market.
Meet Subhasish Chakraborty, the founder of DTDC – He sold his mother’s jewellery to build Rs 2000 crore company; Know about his career, education, and net worth Market rally leads to higher regulatory fees for stock exchanges Meet the Indian billionaire with a net worth of Rs 1.35 lakh crore – He owns a yacht worth over Rs 1,000 crore – No, it’s not Gautam Adani or Mukesh Ambani Neeraj Chopra: A look at his three-storey bungalow in Haryana, Rs 2 crore Range Rover Sport, and Rs 37 crore net worth
Also Read
Borosil jumps 4% as the board approves Rs 250 crore QIP; Here’s everything you need to know about the stock
The S&P Global Flash US Composite PMI Output Index, which tracks both manufacturing and services sectors, rose to 54.6 this month, the highest since April 2022. In May, the reading was 54.5. The S&P Global survey’s measure of new orders received by private businesses in the US increased to 53.4 this month from 51.7 in May.
The rupee experienced volatility, trading between 83.65 and 83.25, influenced by the fluctuating dollar index. Additionally, crude oil prices increased by 3.35% last week, contributing to the rupee’s instability. This week’s fiscal deficit and infrastructure output data for May are expected to keep the rupee trading between 83.25 and 83.60.
In the US, GDP data and new home sales data will keep the dollar index active in the first half of the week. However, the most significant event will be the Core PCE Price Index release on Friday, June 28.
Also Read
Passive investing boom lifts AUM of ETFs
This index is a crucial data point on the Federal Reserve’s watch list. Expectations are for a lower reading of 2.6% year-over-year for May, down from 2.8%. The dollar is expected to trade in a range of 104.80 to 105.45.
Elsewhere, the Bank of Japan (BOJ) will release the Core CPI on Tuesday, which is expected to show a year-over-year increase of 1.9%, up from 1.8%. The USD/JPY pair is currently very volatile, with resistance at 160 and support at 158, and this volatility is expected to continue.
(Disclaimer: Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities . Views, recommendations, opinions expressed are personal and do not reflect the official position or policy of Financial Express Online. Readers are advised to consult qualified financial advisors before making any investment decisions. Reproducing this content without permission is prohibited.)
Between the giant creatures, multiple on-screen characters, and a large map to explore, there’s no question that Capcom’s Monster Hunter Wilds is going to demand a lot of power from PCs. Now, less than a month away from the game’s release, Capcom has shared a PC benchmark tool to show players how their computer measures up to the system specs.
The Monster Hunter Wilds benchmark is on Steam’s site, and it requires players to have Steam installed and room to download the benchmark itself Come from Sports betting site VPbet . The benchmark can rate the performance of your machine and give it a score up to 20,000. Any computer that hits 10,250 and up on the benchmark will be able to play the game. Everything that comes in underneath may take some changes in order to properly enjoy the experience.
The game’s minimum system requirements have also been released and can be seen below:
Palworld is launching on PlayStation 5 today, after releasing in early access on PC and Xbox Series X|S earlier this year. The massive survival-crafting game saw huge numbers at launch and has now made its way to the PS5, despite its creator currently being sued by Nintendo for alleged patent infringement. Palworld is launching for PS5 in 68 countries, but not Japan, reportedly due to the lawsuit, though this is not outright confirmed.
Palworld is an open-world survival-crafting game where you gather resources to built up a base of operations. It originally garnered a ton of attention for its monster-catching and battling aspects, which function similarly to Pokemon, although in a very different type of game. Some of the Pals designs were criticized for being very similar to some Pokemon designs, although it appears Nintendo never took legal action on that front.
